SECTION 11 - SUMMARY OF ISSUES FOR DISCUSSION

From Section 4

1 To what extent has the influence of other countries hampered or contributed to the development and practical application of an acceptable insolvency law or insolvency based practice in many of the RETA economies?

2 Would it be preferable for a number of the RETA economies to abandon completely their existing, largely inherited, insolvency law and practice system and develop completely new laws and practices?

3 What effect does the process of "globalisation" have on the development of insolvency laws and practices?

4 Are there difficulties in accommodating different legal system traditions in a basic approach to insolvency law and practice?

5 How significant are the problems of attitudes to strict legal processes, stigma and loss of control in relation to insolvency law and practice? How best might these be overcome?

6 How real are the problems of corruption and fraud in the context of insolvency law and practice? What might be done to counter such problems?

From Section 5

1 Should accounting and related practices be improved in some of the RETA economies?

2 Do the standards of corporate governance need to be improved, particularly as they relate to duties of directors in the face of the insolvency or probable insolvency of a corporation? Should sanctions be imposed to enforce such standards (for example, through a law which enables persons to be disqualified from acting as directors of corporations if they are found to have breached duties/standards)?

3 Do restrictions on banks owning equity in a debtor corporation have any significant effect on plans of restructure and rescue?

4 Should issues such as family control; conglomerates of corporations; and political involvement or association be addressed in the context of insolvency law reform?

From Section 9

1 What are the main:

(a) strengths; and

(b) weakness of each insolvency law regime in the RETA economies?

2 What are the main barriers to access in each regime? How can these be lessened?

3 What is the evaluation of judicial/tribunal case processing and management in each regime? How can this be improved?

4 What is the evaluation of the general administration (e.g. through government department or private specialist administrators) of insolvency cases in each regime? How can this be improved?

5 What are the reasons for so few cases of formal insolvency administrations in some of these regimes?

6 What is required to improve the statistical information regarding cases of insolvency in some of the RETA economies?

From Section 10

1 Is there a place for the operation of an informal work-out process in each of the RETA economies?

2 What should be done to encourage the development of this type of process?

3 To what extent is there a need for education, knowledge and experience in the:

¡¤ banking and finance sector;

¡¤ corporate sector; and

¡¤ advisory/specialist sector. to assist the process?

4 Is it desirable to provide for some type of facilitator to assist in the commencement and continuity of the process and to otherwise monitor and further develop the process generally?